Regency Centers Acquires Four Shopping Centers in December

January 03, 2013 05:48 PM Eastern Daylight Time

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Regency Centers Corporation (“Regency” or the “Company”) announced today
that prior to year end the Company acquired four properties at a total
purchase price of $188.5 million. Regency’s share of the total purchase
price was $147.4 million. The Company also disposed of three
non-strategic properties during the fourth quarter at a total sales
price of $76.6 million. Regency’s share of the total sales price was
$49.7 million. For the full year 2012, the Company acquired $334.3
million of dominant shopping centers (Regency’s share was $242.8
million) and sold $581.2 million of non-strategic assets (Regency’s
share was $404.9 million).

Acquisition Activity

Uptown District, located in San Diego, CA, was purchased on a wholly
owned basis for a gross purchase price of $81.1 million. The 148,638
square foot urban center is the dominant grocery shopping destination in
San Diego’s densely populated Hillcrest neighborhood. Uptown District is
95% leased and anchored by two grocers, Ralphs (a banner of The Kroger
Company) and Trader Joe’s.

Sandy Springs Plaza, located in the affluent Atlanta neighborhood of
Sandy Springs, was purchased on a wholly owned basis for a gross
purchase price of $35.3 million. The 115,794 square foot center is
situated along Roswell Road, which is the major north-south thoroughfare
extending from Atlanta’s premier Buckhead neighborhood. Sandy Springs
Plaza is 95% leased and anchored by Trader Joe’s, Pier 1 Imports and
Party City.

Village Plaza, located in Chapel Hill, NC, was purchased with a
co-investment partner for a gross purchase price of $16.7 million.
Regency’s share of the purchase price was $3.3 million. The 78,128
square foot neighborhood center sits approximately two miles northeast
of the University of North Carolina at Chapel Hill. Village Plaza is
100% leased and anchored by Whole Foods.

A 50% interest was purchased in Phillips Place, located in Charlotte,
NC. The gross purchase price was $55.4 million, with Regency’s share
being $27.7 million. The 133,059 square foot upscale retail center is
located adjacent to the super-regional SouthPark Mall in Charlotte’s
affluent South Park submarket. Phillips Place is 99% leased and includes
best-in-class operators such as Dean & Deluca, Regal Cinemas, Brooks
Brothers and The Palm Restaurant.

About Regency Centers Corporation (NYSE:REG)

Regency is the preeminent national owner, operator, and developer of
dominant grocery-anchored and community shopping centers. At September
30, 2012, the Company owned 347 retail properties, including those held
in co-investment partnerships. Including tenant-owned square footage,
the portfolio encompassed 46.1 million square feet located in top
markets throughout the United States. Since 2000, Regency has developed
209 shopping centers, including those currently in-process, representing
an investment at completion of more than $3.0 billion. Operating as a
fully integrated real estate company, Regency is a qualified real estate
investment trust that is self-administered and self-managed.

Forward-looking statements involve risks and uncertainties. Actual
future performance, outcomes and results may differ materially from
those expressed in forward-looking statements. Please refer to the
documents filed by Regency Centers Corporation with the SEC,
specifically the most recent reports on Forms 10-K and 10-Q, which
identify important risk factors which could cause actual results to
differ from those contained in the forward-looking statements.